{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{8}{c}}
\toprule
                &\multicolumn{1}{c}{\shortstack{Stock\\recovery\\duration}}&\multicolumn{1}{c}{\shortstack{Agree:\\Recovery\\many yrs.}}&\multicolumn{1}{c}{\shortstack{Agree:\\Set back\\many yrs.}}&\multicolumn{1}{c}{\shortstack{Agree:\\Recover\\2020}}&\multicolumn{1}{c}{\shortstack{Stock\\return:\\Mean}}&\multicolumn{1}{c}{\shortstack{Stock\\return:\\SD}}&\multicolumn{1}{c}{\shortstack{Stock \\ return \\ <-30\%}}&\multicolumn{1}{c}{\shortstack{Stock \\ return \\ >30\%}}\\\cmidrule(lr){2-2}\cmidrule(lr){3-3}\cmidrule(lr){4-4}\cmidrule(lr){5-5}\cmidrule(lr){6-6}\cmidrule(lr){7-7}\cmidrule(lr){8-8}\cmidrule(lr){9-9}
                &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}&\multicolumn{1}{c}{(5)}&\multicolumn{1}{c}{(6)}&\multicolumn{1}{c}{(7)}&\multicolumn{1}{c}{(8)}\\
\midrule
{\bf Panel A: All}&         &         &         &         &         &         &         &         \\
Info Fin. Crisis 2007&1.304\sym{***}&0.207\sym{***}&0.179\sym{***}&-0.237\sym{***}&-2.561\sym{***}&    0.014&2.040\sym{*}&-2.239\sym{**}\\
                &  (0.108)&  (0.041)&  (0.042)&  (0.042)&  (0.795)&  (0.394)&  (1.055)&  (1.134)\\
 {\bf Panel B: Underestimators}&         &         &         &         &         &         &         &         \\
Info Fin. Crisis 2007&1.645\sym{***}&0.317\sym{***}&0.311\sym{***}&-0.287\sym{***}&-3.026\sym{***}&    0.086&    1.271&-3.724\sym{***}\\
                &  (0.115)&  (0.051)&  (0.051)&  (0.050)&  (0.947)&  (0.482)&  (1.266)&  (1.322)\\
 {\bf Panel C: Under. \& $\text{Stocks}>0$}&         &         &         &         &         &         &         &         \\
Info Fin. Crisis 2007&1.503\sym{***}&0.332\sym{***}&0.308\sym{***}&-0.293\sym{***}&-2.226\sym{*}&   -0.216&    1.308&   -2.520\\
                &  (0.134)&  (0.064)&  (0.066)&  (0.063)&  (1.145)&  (0.567)&  (1.517)&  (1.541)\\
                &         &         &         &         &         &         &         &         \\
\hline {\bf Panel D: All}&         &         &         &         &         &         &         &         \\
Info Dot-com 2000&1.758\sym{***}&0.101\sym{**}&0.145\sym{***}&-0.199\sym{***}&-1.615\sym{**}&    0.220&    1.238&   -1.238\\
                &  (0.123)&  (0.041)&  (0.042)&  (0.043)&  (0.795)&  (0.400)&  (1.063)&  (1.107)\\
{\bf Panel E: Underestimators}&         &         &         &         &         &         &         &         \\
Info Dot-com 2000&2.261\sym{***}&0.207\sym{***}&0.231\sym{***}&-0.211\sym{***}&   -1.545&    0.216&    1.123&   -1.509\\
                &  (0.134)&  (0.053)&  (0.053)&  (0.054)&  (0.988)&  (0.497)&  (1.363)&  (1.342)\\
{\bf Panel F: Under. \& $\text{Stocks}>0$}&         &         &         &         &         &         &         &         \\
Info Dot-com 2000&2.071\sym{***}&0.221\sym{***}&0.259\sym{***}&-0.164\sym{**}&   -0.977&   -0.086&    0.742&   -0.987\\
                &  (0.170)&  (0.068)&  (0.069)&  (0.068)&  (1.158)&  (0.610)&  (1.550)&  (1.526)\\
                &         &         &         &         &         &         &         &         \\
\hline {\bf Panel G: All}&         &         &         &         &         &         &         &         \\
Info Black Monday 1987&-0.928\sym{***}&-0.106\sym{***}&-0.106\sym{**}&   -0.063&1.465\sym{*}&    0.246&-2.723\sym{***}&   -0.585\\
                &  (0.104)&  (0.041)&  (0.041)&  (0.042)&  (0.766)&  (0.383)&  (0.942)&  (1.133)\\
{\bf Panel H: Overestimators}&         &         &         &         &         &         &         &         \\
Info Black Monday 1987&-1.277\sym{***}&-0.168\sym{***}&-0.191\sym{***}&    0.045&1.987\sym{**}&    0.294&-3.167\sym{***}&    0.025\\
                &  (0.125)&  (0.045)&  (0.046)&  (0.046)&  (0.857)&  (0.434)&  (1.076)&  (1.227)\\
{\bf Panel I: Over. \& $\text{Stocks}>0$}&         &         &         &         &         &         &         &         \\
Info Black Monday 1987&-1.109\sym{***}&-0.138\sym{**}&-0.160\sym{***}&    0.075&1.887\sym{*}&    0.181&-2.984\sym{**}&    0.212\\
                &  (0.157)&  (0.060)&  (0.061)&  (0.062)&  (1.029)&  (0.537)&  (1.212)&  (1.451)\\
                &         &         &         &         &         &         &         &         \\
\hline Individual controls&      Yes&      Yes&      Yes&      Yes&      Yes&      Yes&      Yes&      Yes\\
\bottomrule
\end{tabular}
}
